Private Mortgage BC — When the Bank Says No, Equity Can Still Say Yes
BC private lenders approve based on your property equity and exit strategy, not just your income or credit score. Rates from 6.99%. Funding in 5–10 business days.
Rates as of May 2026. Actual rates depend on LTV, property type, credit profile, and lender. Not a rate guarantee.
Who Uses BC Private Mortgages?
Private mortgages serve borrowers who fall outside conventional bank criteria — not because their situation is bad, but because banks have rigid rules.
What BC Private Lenders Look At
Cost Example
This is a hypothetical illustration only. Actual rates, fees, and approval depend on individual circumstances. BCPrivateLoans.ca does not provide mortgage advice.
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Risks to Understand
Higher rates than banks — private mortgages cost more. Understand the full cost before proceeding.
Short terms (6–24 months) — you must have a clear exit strategy before the term ends.
Lender and broker fees add to your cost — always get a full fee disclosure in writing.
Default risk — private lenders can and do enforce their security. Missed payments can lead to foreclosure.
Not all lenders are equal — always verify any broker arranging your mortgage holds a valid BCFSA licence.
Related Reading
Frequently Asked Questions
What is a private mortgage in BC?
A private mortgage in BC is a loan secured against real property, funded by a private individual or company (not a bank or credit union). Private lenders operate outside the federally regulated banking system, which means they can set their own approval criteria. They typically approve based on property equity and exit strategy rather than income and credit score. Terms are usually 6–24 months with interest-only payments.
What are current private mortgage rates in BC?
In May 2026, BC private mortgage rates range from 6.99% to 13.99% annually. First mortgages from strong borrowers with low LTV start around 6.99–8.49%. Second mortgages and higher-risk files range from 8.49–13.99%. Add lender fees (1–3%) and any broker fees (1–2%) to calculate your true cost of borrowing.
How fast can I get a private mortgage in BC?
Most BC private mortgage transactions close in 5–10 business days once an appraisal is complete. Rush closings in 48–72 hours are possible for straightforward files with existing appraisals, though they typically carry a premium. Compare this to 3–8 weeks for a conventional bank mortgage.
What is the maximum LTV for a BC private mortgage?
Most BC private lenders will lend up to 65–75% of the appraised property value for first mortgages, and up to 75–80% combined LTV (CLTV) for second mortgages. Metro Vancouver and Victoria properties typically qualify for higher LTV ratios due to strong market liquidity. Rural or unique properties may be capped at 55–65% LTV.
Are BC private mortgage lenders regulated?
Private mortgage lenders in BC are not regulated the same way as banks. However, mortgage brokers who arrange private mortgages must be licensed with the BC Financial Services Authority (BCFSA). Always verify that any broker arranging your private mortgage holds a valid BCFSA licence. BCPrivateLoans.ca is a directory service — we do not arrange mortgages or provide mortgage advice.
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Submit My ScenarioBCPrivateLoans.ca is an educational directory and referral-intake platform. We are not a mortgage broker, lender, or financial advisor. We do not approve loans or guarantee funding.